Irrevocable Financial Support Commitment by G.S. Beckwith Gilbert to PASSUR Aerospace, Inc. (2012-2013)
G.S. Beckwith Gilbert, as Chairman and principal shareholder of PASSUR Aerospace, Inc., commits to provide financial support to the company from January 4, 2012, through January 4, 2013. If PASSUR Aerospace cannot meet its financial obligations during this period, Mr. Gilbert will supply the necessary funds, either through loans, advances, or deferral of payments, to ensure the company can continue operating. This commitment is unconditional and cannot be revoked before January 4, 2013.
Exhibit 10.19
Field Point Capital Management Company
One Landmark Square, Suite 1900
Stamford, CT 06901
January 4, 2012
PASSUR Aerospace, Inc.
One Landmark Square, Suite 1900
Stamford, CT 06901
As Chairman of the Board, as well as the principal shareholder of PASSUR Aerospace, Inc. (“PASSUR Aerospace” or the “Company”), I make the following commitment to the Company with respect to the period from the date of this commitment through January 4, 2013.
Liquidity
I commit that if the Company at any time is unable to meet its obligations through January 4, 2013, that I will provide the necessary continuing financial support to the Company to ensure the Company’s ability to operate as a going concern through the period ending January 4, 2013. Such continuing support may take the form of additional loans or advances to PASSUR Aerospace, in addition to the deferral of principal and/or interest payments due on outstanding loans to PASSUR Aerospace as referred to above.
These commitments are not conditional and are irrevocable through the period ending January 4, 2013.
I, G.S. Beckwith Gilbert, having the financial wherewithal to enter into this irrevocable commitment, make the above commitments to the Company and its shareholders.
/s/ G.S. Beckwith Gilbert
G.S. Beckwith Gilbert
President
